Wires

PR Newswire owner Cision to be taken private for $2.74 billion

Oct 22 (Reuters) - PR Newswire owner Cision Ltd said on Tuesday it will be acquired by an affiliate of private equity firm Platinum Equity for $10 per share in cash, valuing the company at $2.74 billion.

The offer represents a premium of about 18% over Cision's Monday closing price of $8.45. The deal is expected to close in the first quarter of 2020, Cision said in a statement. (Reporting by Ayanti Bera in Bengaluru; Editing by Arun Koyyur)